Barclays CEO Anthony Jenkins is set to leave the bank after almost three years at the top.
Barclays did not give a reason for Jenkins' departure in a surprise announcement from the UK's second biggest bank on Wednesday.
Sir Michael Rake, Barclays deputy chairman, said that a "new set of skills" were needed to run the bank and that the search for a new chairman was already underway.
Barclays executive chairman John McFarlane will take the helm as interim CEO.
McFarlane said: "We... need to improve revenue, costs and capital performance. We also need to become more externally focused and deal with the internal bureaucracy by becoming leaner and more agile."